Articles

Hardship Distribution Rules Are Changing

Workers who save for retirement in their employer’s 401(k) plan generally don’t have access to their savings until they change jobs or retire – unless they suffer a financial hardship.

Deep Dive into Executive Compensation: A Case Study

Newport Group helped a large conglomerate see the “big picture” of its executive compensation structure and provided a vision for long term improvements. 

Newport Group to Purchase PNC Bank's Vested Interest DC Recordkeeping Business 

Walnut Creek, CA—April 12, 2019—Newport Group, Inc. (“Newport Group”) and PNC Bank, National Association (“PNC Bank”) announced today that the two companies have entered into a definitive agreement by which Newport Group will purchase the Vested Interest® defined contribution plan recordkeeping business from PNC Bank. Terms of the transaction were not disclosed.

Newport Group in the Spotlight at NAPA's 2019
401(k) Summit

Newport Group's expertise will be front and center at the 2019 National Association of Plan Advisor's (NAPA) 401(k) Summit.

Student Loan Obligations Foster New 401(k) Innovation

Abbott Laboratories secured a Private Letter Ruling (PLR) from the IRS, allowing them to make an employer contribution to their 401(k) plan on behalf of employees who are making student loan payments.

Potential Benefits of Consolidating BOLI Administration with Newport Group

Bank-owned life insurance (BOLI) has been widely accepted by banks of all sizes for well over two decades, and the number of BOLI policies on bank balance sheets has increased steadily during that time. As of September 30, 2018, approximately 3,500 U.S. banks reported owning BOLI, which in aggregate totals over $190 billion of cash value.

The Importance of Fiduciary Governance Advice for
Non-Qualified Plans

Non-qualified plans are an excellent tool to help retain, attract and reward executives or highly compensated employees. These plans can provide participants additional tax-deferred benefits above the levels available in their 401(k) plan.

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Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. Fiduciary consulting services are provided through Newport Group Securities, Inc., an SEC-registered investment adviser and FINRA-registered broker-dealer, and Newport Group Consulting, LLC, an SEC-registered investment adviser. Newport Group Securities, Inc. and Newport Group Consulting, LLC are affiliates of Newport Group, Inc. All securities transactions are provided through Newport Group Securities, Inc., in its role as broker-dealer. All fiduciary consulting services are provided through the registered investment advisers. When offering variable insurance products, Newport Group Securities, Inc. acts solely in its capacity as a broker-dealer. Trust and custody services provided by Newport Trust Company, a New Hampshire state chartered trust company and wholly owned subsidiary of Newport Group, Inc.